Quepasa reports $1.1M second-quarter loss

Phoenix-based Quepasa Corp., which specializes in "pay-per-click marketing" for the U.S. Hispanic market, Friday announced a net loss for the second quarter.

According to the company's report, the loss was $1.1 million, or 25 cents per share. Officials said the loss breakdown was $522,000 in non-cash expenses and $578,000 cash in operating expenses.

For the quarter, the company reported $103,000 in revenue, up from no revenue in the second quarter of 2003.

Company officials added that the number of clients has risen from 367 in the first quarter to about 800 currently.

"Our momentum continues to build, and we are very focused on managing our growth, said Fernando Ascencio, Quepasa president. "For the second quarter, non-cash expenditures recorded on our books totaled $522,000 due to financing and other one-time activities. As Quepasa's revenue recognition and new business development continue to accelerate, we will adjust all components of our core business accordingly."